Maxine, Inc. bought a machine on January 1, 2012 for 48,000. The ...

[Pea0909berry]

Maxine, Inc. bought a machine on January 1, 2012 for 48,000. The machine is expected to last for 8 years, after which it will be worthless. What is the book value of the machine on Maxine's balance sheet at December 31, 2013?
 
  A) 48,000
  B) 42,000
  C) 36,000
  D) 12,000

Question 2

To journalize the employer's payroll taxes, we need to credit all of the following accounts EXCEPT
 a. Payroll Taxes Expense.
   b. Social Security Tax Payable.
   c. Medicare Tax Payable.
   d. FUTA Tax Payable.

[mjbamaung]

Answer to Question 1

C

Answer to Question 2

a